Malaysian Ringgit

[twoteachers]

Is the downward spiral of the Malaysian Ringgit turning anyone away from Malaysia? Or making them apply elsewhere for next year? How is it affecting you?

[vincentchase]

Look at a 1 year chart of almost any currency against the USD. The Ringgit isn't exactly 'special'.

[twoteachers]

I realize that, but quite a few teachers in my school are thinking of bugging out because of it.

[vincentchase]

And go to a school paying USD, which with the state of currency wars will later have its turn to be devalued against other currencies? At which time, would they then break contract and move back to Malaysia? Swings and roundabouts.

[PsyGuy]

Agree with Vincent, put anything against the USD or GBP and there isnt anything special. If your faculty want to leave over it, thats their choice but they are chasing a pendulum that never stops swinging.

[vincentchase]

Unless you have bills to pay back home, one option is to save the Ringgit and invest within Malaysia. Then cash out when the exchange rate becomes more favorable.

[Nemo.]

Hi the Malaysian economy is 60% oil based so with oil plummeting the currency was bound to dive.

But now we are seeing oil companies go bust, production being cut back in expensive places so eventually the oil price will go up. Although Chinese demand is slowing it will pick up. 2 years time MYR back to 5.5 to GBO and 3.6 to USD. PAr for the course when living in a third world country.